CrescoFX -Some Important Points about This Broker

WikiFX | 2021-09-27 14:19

Abstract：CrescoFX is a multi-asset brokerage firm which has private and institutional clients, which was founded by an engineer who turned entrepreneur in 2011. In 2016, CrescoFX, obtained their license variation in order to offer their clients a wider range of financial products, including equities, futures and options. CrescoFX moved their central office to the City of London, to benefit from the city and other European financial markets.

General Information & Regulation

CrescoFX is a multi-asset brokerage firm which has private and institutional clients, which was founded by an engineer who turned entrepreneur in 2011. In 2016, CrescoFX, obtained their license variation in order to offer their clients a wider range of financial products, including equities, futures and options. CrescoFX moved their central office to the City of London, to benefit from the city and other European financial markets. CrescoFX is part of the Cresco group which comprises of CerscoFX - FX and CFD brokering services and CrescoCAP - investment and advisory solutions for institutional and sophisticated professional investors seeking enhanced returns in alternative investment strategies. The brokerage firm is licensed and registered with the Financial Conduct Authority (FCA). The firm is regulated by the European Security and Markets Authority (ESMA). CrescoFX is authorized by FCA therefore, they have to comply with the Markets in Financial Instruments Directive (MiFID), as the are the EU legislation that regulates firms who provides services to clients.

Market Instruments

CrescoFX offers their clients many financial instruments to trade. Clients can trade all major and minors FX pairs, as well as, Gold, commodities (excl. Gold) minor indices, cryptocurrencies, Bond and equities.

CrescoFX Account Types

Before clients can open an account with CrescoFX, they first have to complete an online application. Once they have completed this application they have the following account type to choose from. Standard Account, available on MT4 and Cresco Trader, with a minimum deposit of 1000USD. Gold Account, available on MT4 and Cresco Trader, with a minimum deposit of 5000 USD. CrescoFX clients are also offered an Asset Management account. This account is offered by CrescoCap and falls under Cresco VIP, and provides assists with all aspects of the account and trading.

CrescoFX Leverage

The ESMA has made major changes to the leverage of clients regulated by them. Clients trading with CrescoFX can use the following leverages on financial instruments. The leverages are set for Major FX Pairs 30:1, Major Indices 20:1, Commodities 10:1, Cryptocurrencies 2:1 and Equities 5:1. Retail traders now have protection from their account reaching zero. These affects were implemented from 01/08/2018.

Spreads & Commissions

Spreads and commissions are charged based on the account type the client chooses. Spreads and commissions vary from retail traders to institutional traders. It is not clear on how the specific spreads and commissions are charged.

CrescoFX Trading Platform

CrescoFX has its own trading platform called Cresco trader. The platform is award winning[v3] and has many benefits for its users over other well-known platforms. The firm also makes use of MetaTrader 4, one of the most well-known platforms to date. The broker has two other platforms available on request; Integral and Currenex.

Deposit & withdrawal

Deposits and withdrawals are dependent on the account type. For a Standard Account the minimum deposit is 1000USD and for the Gold account the minimum deposit is 5000USD.

Customer Services

CrescoFX has a dedicated [v4] customer service team that works 24/5.

Customer service email: info@crescofx.com

Customer service phone number: +44 (0) 207 952 6825

CrescoFX